How much do you know about final tax on passive incomes in the Philippines?

• Individual taxpayers in the Philippines are subject to final tax on certain passive incomes.
• Final tax is imposed on interests, dividends, royalties, prizes, capital gains, and informers' rewards.
• The tax rate varies depending on the type of passive income.
• Taxpayers must submit a tax return, which is a sworn statement declaring their tax liability for the year.
• An income tax return reports the taxpayer's income and allowable deductions.
• Passive incomes require very little effort to earn.
• The tax applies to passive incomes received from sources within the Philippines.
• Capital gains from sales of shares of stock or real property are subject to final tax.
• Cash and property dividends from domestic corporations are also subject to final tax.
• The informer's reward to persons instrumental in the discovery of violations of the Tax Code or in the discovery and seizure of smuggled goods is also subject to final tax.

Think you have a good handle on the final tax laws for passive incomes in the Philippines? Test your knowledge with this quiz! From dividends to informer's rewards, this quiz covers all the important details you need to know. Get ready to sharpen your tax knowledge and take the quiz now!